Kazakhstan holds great potential for Vietnamese investors

Hanoi (VNA) – Kazakhstan can be the gateway for Vietnamese firms to enter the East
Europe market, according to Kazakhstan’s Ambassador to Vietnam Beketzhan Zhumakhanov.

He said Kazakhstan
has opened its border entirely to Russia and Belarus, and with the free trade
agreement between Vietnam and the Eurasia Economic Alliance (EAEU), Vietnamese
goods can go through Kazakh to neighbouring East European countries.

The ambassador also
stressed that the country is undertaking economic reform while offering
incentive policies to foreign firms.

Kazakhstan is rich
in oil and gas, and recently the country is looking to diversify its economy to
reduce its dependence on oil industry. The focus is put on metallurgy,
chemicals, pharmaceuticals, machinery manufacturing, light industry, tourism,
information and communication technology, and energy.

Lying on the
corridor connecting Europe and Asia, Kazakhstan has seven railway routes
connecting China, Southeast Asia to Russia, Europe and Turkey, making
Kazakhstan a great place for moving goods between Europe and Asia.

Trade between Vietnam
and Kazakhstan has been expanding in recent years but the scale is still modest
compared with potential, according to Vietnam’s Ambassador to Kazakhstan Doan
Thi Xuan Hien.

The Vietnamese
Embassy in Kazakhstan is assisting several companies such as Interserco and
Viettel in studying the market in Kazakhstan and Central Asia.

Vietnam will attend
the world largest international fair EXPO 2017 in Kazakhstan’s capital city of
Astana.

The Vietnam area
includes a Vietnam House and a commercial space where Vietnamese enterprises
can display their products.

This is an
opportunity for Vietnamese companies to seek contracts with partners from
Kazakhstan as well as around the world.

According to the
Kazakhstan Embassy in Vietnam, two-way trade value grew from 44 million USD in
2010 to 162 million USD in 2015.-VNA